At Northern Community Bank, we want looking after your money to feel simple, fair, and worry-free. One of the ways we do this is by offering a free bereavement fund benefit on your savings and loans. It’s just one of the ways we look out for our account holders, helping you and your loved ones feel secure.
To make sure this benefit works exactly as it should, it’s really important to keep your details up to date. That includes your beneficiary – the person you’ve chosen to receive any bereavement fund payments if something were to happen.
What exactly is a beneficiary?
A beneficiary is simply the person (or people) you want to receive your bereavement fund money. It’s your way of making sure your savings or loan cover goes to the people who matter most, exactly as you intend.
Think of it like this: if something happens to you, your beneficiary is the person who would get the support your account provides. If no one is nominated, the money might go through your estate instead, which can take longer and be more complicated for your loved ones.
Northern Community Bank tip: It’s a small thing that can make a big difference – checking who your beneficiary is could save your family unnecessary stress later.
Example:
Imagine you’ve been saving for a few years and have £2,000 in your account, plus free the bereavement fund benefit with us. You’ve nominated your partner, as your beneficiary. If anything happens to you, your partner would receive the money quickly and simply – no extra delays, no extra paperwork.
Now, if your details weren’t up to date, or you hadn’t nominated anyone, that same £2,000 would go through your estate. This could mean extra paperwork and delays at a time when your loved ones need support the most.
Northern Community Bank tip: Even if nothing has changed for years, it’s worth taking a moment to check your beneficiary details. A quick update could save your family time and worry.
How to update your beneficiary details
It only takes a few minutes, and we’re here to help every step of the way:
- Log in to your online account – check your personal information and make any updates.
- Log into the app and send us a direct message.
- Send us an email – you can email us at hello@northerncb.uk with your details
- Call or pop in to see us – our friendly team is happy to help if you’d rather speak to someone directly.
Northern Community Bank tip: If you’ve recently married, entered a civil partnership, or changed your surname, now is the perfect time to check your details.
Peace of mind starts here
Life is full of surprises, but keeping your account details up to date is an easy way to make sure your free bereavement fund benefit works when it’s needed most. At Northern Community Bank, being part of our community means looking out for each other, and that includes making sure your money and your family are protected.
Ready to get started? Update your details today and give yourself the peace of mind you deserve.
Find out more about our free bereavement fund benefit on savings and loans
